Petrol (PETG) Q1 2026 earnings summary

Executive summary

• Q1 2026 was marked by extreme volatility in energy markets due to the Middle East conflict, leading to sharp price increases and regulatory interventions in Slovenia and Croatia.

• Regulatory price caps in Slovenia caused a surge in fuel demand, supply disruptions, and negative margins, resulting in a significant negative EBIT in fuel and petroleum product sales.

• Despite strong performance in other segments, overall financial results fell short of expectations, with net profit dropping sharply year-over-year.

Financial highlights

• Revenue: EUR 1,531.3 million, flat year-over-year.

• EBITDA: EUR 41.0 million, down 39% (EUR 26.0 million) from Q1 2025.

• Net profit: EUR 8.3 million, down 73% (EUR 22.7 million) year-over-year.

• Operating profit: EUR 14.8 million, down 65% year-over-year.

• Earnings per share: EUR 0.20.

• Net investments: EUR 26.8 million, up from EUR 14.0 million in Q1 2025.

Outlook and guidance

• Economic growth in Slovenia and Croatia is projected at 2.0% and 2.6% respectively for 2026, with inflation at 2.5% and 4.4%.

• Ongoing regulatory risks, geopolitical instability, and cost inflation are expected to continue impacting operations.

• The company will focus on cost optimization, productivity improvements, and adapting investment policy to market conditions.